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Updated over 7 years ago on . Most recent reply

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Mariama R.
  • Washington, DC
1
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Druid Hill Avenue, Baltimore Maryland - how does the area rank?

Mariama R.
  • Washington, DC
Posted

Hello:  I'm looking to buy my first investment property to use as an income rental property.   I see some properties in Baltimore MD on Druid Hill Avenue, which is in the neighborhood of Druid Heights.  This is a Historical District. How is this neighborhood now in terms of safety and other characteristics?  My research has indicated that several murders have taken place on this Avenue within the past couple of years.  This street has been described as up and coming because it is Station North.  I'm looking at a property that has been foreclosed on wherein the price or starting price is listed as around $20,000 - the property looks like a shell - like it would need at least $80,000 or more for rehabilitation.  Would it be worth purchasing and rehabilitating if I want to buy, and hold in order to create a rental property for myself?  The comparables also seem to only sell for $20,000.  Yet this particular property of interest that I'm interested in purchasing is assessed by Zillow at a little over $100,000.

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17,425
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,069
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17,425
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied
Originally posted by @Mariama R.:

Thank you for your suggestions - I will take a look at this meetup.  May I ask why you don't feel comfortable investing in this area?  How do the people investing there and in similar neigborhoods make a lot of money - is it via rehabbing and flipping or rehabbing and renting out? I'm concerned that several murders took place on this street.

 I personally only invest in high income areas such as Montgomery County and DC. But I do not need a ton of cash flow. I have enough cash flow from my properties to suit my needs and I have a high income job, so I do not invest with the the goal of creating a ton of cash flow. Many of the people who do invest in cheaper neighborhoods in Baltimore are investing specifically for cash flow, and many people call it the cash flow capital of the east coast. Some of these guys up there like @Matt Schelberg probably have as much or more cash flow on their sub $100k properties as I have on one of my $400-$450k properties, with considerably less invested than I have.

I basically have a rule that if I or my wife wouldnt live in the property, or if I wouldnt send my wife alone to the property to collect the rent at night, I wouldnt buy it.

But everyones goals with investing are different, everyones risk tolerance is different, and everyones ability to manage different types of tenants is different. There is money to be made in Baltimore, its just not for me.

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